Novo Nordisk A/S (NYSE:NVO) Shares Sold by Red Door Wealth Management LLC

Red Door Wealth Management LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,396 shares of the company’s stock after selling 496 shares during the period. Red Door Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $436,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NVO. Pacific Center for Financial Services increased its holdings in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. First PREMIER Bank purchased a new position in Novo Nordisk A/S in the first quarter valued at about $25,000. CNB Bank purchased a new position in Novo Nordisk A/S in the fourth quarter valued at about $26,000. Tyler Stone Wealth Management boosted its stake in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after acquiring an additional 146 shares in the last quarter. Finally, West Paces Advisors Inc. grew its holdings in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, June 17th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Finally, Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Trading Down 1.2 %

NYSE:NVO traded down $1.75 during mid-day trading on Friday, reaching $142.74. The company’s stock had a trading volume of 2,757,544 shares, compared to its average volume of 3,502,773. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market cap of $640.55 billion, a P/E ratio of 49.22, a P/E/G ratio of 1.42 and a beta of 0.41. The company’s fifty day simple moving average is $135.00 and its two-hundred day simple moving average is $123.54. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, equities analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.